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www.alliance21.org > Proposal Papers > Workgroup on Solidarity Socio-Economy

Finance for the Common Good

Published in May 2001

This Proposal Paper is a summary of the work by the workshop Escaping from the Financialization Maze: Finance for the Common Good.

The importance of finance in the Western vision of society has grown in parallel to an increased confidence in the future of the system and to the multiplication of assets and financial transactions. This process can be qualified as the "financialization" of the economy: the extension into the economic world of the financialization of mentalities. Before becoming an economic reality, the financialization of mentalities is a social fact that leads to setting up self-referential restraints and establishing them as dogma, as universally applicable economic laws, when in fact they are no more than institutionalized actuarial gambles. It follows that Northern societies become more isolationist, with a parallel mechanism affecting the Southern economies. However, concern for the common good implies and presupposes opening up to, taking into account, indeed even welcoming, others. More consideration of others in current financial decisions would constitute an important step toward the common good. It should do so without bearing any prejudice toward financial activity itself, which is an essential element in economic life. The three areas where the explicit consideration of others seems to be required most urgently are credit, investment, and intermediation activities.

Coordinated by ...

- Natasha Morais

Observatoire de la Finance, Switzerland

Site - Observatoire de la Finance


- Paul Dembinski

Professor of Economy, University of Fribourg. Observatoire de la Finance, Switzerland

Site - Observatoire de la Finance


Topics Included

common good . economy . companies . currency . finance . financial markets . international regulation . market regulation . responsibility . state . world

Workgroup Papers

Go ! Companies Beyond Profit?
Go ! Debt and Structural Adjustment
Go ! Economic Policies
Go ! Ethical Consumption
Go ! Fair Trade
Go ! Finance for the Common Good
Go ! From the WTO’s Setback in Seattle ... to the Conditions for Global Governance
Go ! Growth and Sustainable Development
Go ! Health and its Issues in the Twenty-first Century
Go ! How Can Companies Exercise Their Responsibilities?
Go ! Precarity and Exclusion
Go ! Production, Investment, and Technology
Go ! Red Card for Tourism?
Go ! Social Money: Lever of the Economic Paradigm
Go ! Solidarity Economy
Go ! Solidarity Finance
Go ! Tax Policies, Redistribution, and Social Welfare
Go ! The Trade-union Movement at the Dawn of the Twenty-first Century
Go ! Women and the Economy
Go ! Work, Employment, and Activity
Go ! World Trade Organization

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